Avalo Therapeutics, Inc.
AVTXHealthcare|Biotechnology|US
$6.93
+0.30 (+4.52%)
DCF Value
$0.99
Tangible Book / Share
$7.74
Cash / Share
$7.14
Financials
Financial Snapshot
Market Cap
$371.7M
Enterprise Value
$306.8M
Revenue (TTM)
$59.0K
Net Income (TTM)
-$88.7M
Cash & Investments
$393.0M
Net Cash
$392.8M
Free Cash Flow (TTM)
-$61.6M
Operating CF (TTM)
-$61.6M
Debt/Equity
0.00
Cash Runway & Burn Rate
Cash on Hand
$393.0M
Quarterly Burn
$15.4M
Monthly Burn
$5.1M
Est. Runway
~25.5 quarters
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $5.1M | $2.5M | $10.6M | $11.2M | $18.9M | $54.6M | $13.2M | $7.4M | $134.5M | $98.3M | $393.0M | |
| Operating Cash Flow | -$14.6M | $12.5M | -$3.1M | -$19.1M | -$40.5M | -$70.9M | -$26.8M | -$30.7M | -$49.1M | -$51.5M | -$61.6M | |
| Free Cash Flow | -$14.6M | $12.5M | -$3.7M | -$19.4M | -$40.6M | -$71.0M | -$26.8M | -$30.8M | -$49.1M | -$51.5M | -$61.6M | |
| Capital Expenditure | -$34.9K | -$23.3K | -$564.4K | -$262.0K | -$63.0K | -$113.0K | -$95.0K | -$158.0K | $0.00 | $0.00 | $0.00 | |
| Financing Cash Flow | -$1.4M | $3.7M | $10.4M | $12.6M | $44.8M | $106.8M | -$14.7M | $25.0M | $175.8M | $14.6M | $844.0M |
R&D Spending
R&D (TTM)
$65.8M
R&D Intensity
111488.1%
R&D Growth vs Prior
+31.3%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.2M | $27.8M | $18.3M | $6.8M | $6.7M | $5.4M | $18.1M | $1.9M | $441.0K | $59.0K | $59.0K | |
| R&D Expense | $10.2M | $4.4M | $5.8M | $11.8M | $32.2M | $59.8M | $31.3M | $13.8M | $52.1M | $50.1M | $65.8M | |
| R&D % of Revenue | 880.3% | 15.7% | 31.6% | 174.3% | 480.6% | 1108.5% | 173.4% | 716.4% | 11809.1% | 84888.1% | 111488.1% | |
| SG&A | $7.1M | $8.9M | $19.2M | $11.6M | $19.8M | $24.7M | $20.7M | $10.3M | $17.2M | $22.9M | $29.8M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.2M | $27.8M | $18.3M | $6.8M | $6.7M | $5.4M | $18.1M | $1.9M | $441.0K | $59.0K | $59.0K | |
| Cost of Revenue | $8.2M | $635.6K | $7.5M | -$566.5K | $300.0K | $1.5M | $3.4M | $1.3M | -$366.0K | $0.00 | $17.0K | |
| Gross Profit | -$7.1M | $27.2M | $10.8M | $7.3M | $6.4M | $3.9M | $14.6M | $640.0K | $807.0K | $59.0K | $42.0K | |
| R&D | $10.2M | $4.4M | $5.8M | $11.8M | $32.2M | $59.8M | $31.3M | $13.8M | $52.1M | $50.1M | $65.8M | |
| SG&A | $7.1M | $8.9M | $19.2M | $11.6M | $19.8M | $24.7M | $20.7M | $10.3M | $17.2M | $22.9M | $29.8M | |
| Operating Income | -$16.1M | $13.9M | -$39.3M | -$16.1M | $0.00 | -$82.1M | -$37.4M | -$27.4M | -$68.5M | -$72.9M | -$95.6M | |
| Interest Expense | $464.2K | $24.0K | $0.00 | $0.00 | $0.00 | $2.4M | $4.2M | $3.4M | $0.00 | $0.00 | $0.00 | |
| Pretax Income | -$16.5M | $13.8M | -$40.1M | -$16.0M | -$67.2M | -$84.5M | -$41.6M | -$31.5M | -$35.0M | -$78.1M | -$88.5M | |
| Net Income | -$16.5M | $11.9M | -$40.1M | -$16.1M | -$63.5M | -$84.4M | -$41.7M | -$31.5M | -$35.1M | -$78.3M | -$88.7M | |
| EPS (Diluted) | -21.93 | 1822.74 | -3317.28 | -819.74 | -2523.77 | -2330.66 | -1062.65 | -113.58 | -3.26 | -5.84 | -2.89 | |
| EBITDA | -$16.1M | $14.3M | -$13.1M | -$13.5M | -$45.5M | -$80.5M | -$37.3M | -$23.3M | -$34.8M | -$77.8M | -$92.9M | |
| Shares Out. (M) | 0.00 | 0.01 | 0.01 | 0.02 | 0.03 | 0.04 | 0.04 | 0.28 | 10.78 | 13.40 | 55.06 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $5.1M | $2.5M | $10.6M | $3.6M | $18.9M | $54.6M | $13.2M | $7.4M | $134.5M | $15.9M | $65.0M | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $7.6M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $82.5M | $328.0M | |
| Total Current Assets | $5.7M | $11.0M | $21.9M | $17.7M | $26.0M | $61.8M | $16.4M | $8.4M | $138.9M | $105.3M | $400.7M | |
| Total Assets | $5.8M | $43.1M | $70.3M | $36.1M | $43.8M | $80.2M | $33.4M | $21.0M | $150.7M | $116.5M | $481.4M | |
| Total Current Liabilities | $4.3M | $11.4M | $26.2M | $12.2M | $15.2M | $19.9M | $22.1M | $4.6M | $7.0M | $12.9M | $24.1M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $32.8M | $13.5M | $0.00 | $0.00 | $2.0M | $0.00 | |
| Total Liabilities | $5.6M | $15.3M | $49.3M | $15.1M | $19.2M | $57.1M | $44.3M | $13.7M | $17.7M | $33.4M | $44.9M | |
| Stockholders' Equity | $207.0K | $27.9M | $20.9M | $21.0M | $24.6M | $23.1M | -$10.9M | $7.3M | $133.0M | $83.0M | $436.5M | |
| Retained Earnings | -$70.0M | -$58.2M | -$98.2M | -$114.3M | -$177.8M | -$262.2M | -$303.8M | -$335.1M | -$370.3M | -$448.5M | -$523.5M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$14.6M | $12.5M | -$3.1M | -$19.1M | -$40.5M | -$70.9M | -$26.8M | -$30.7M | -$49.1M | -$51.5M | -$61.6M | |
| Capital Expenditure | -$34.9K | -$23.3K | -$564.4K | -$262.0K | -$63.0K | -$113.0K | -$95.0K | -$158.0K | $0.00 | $0.00 | $0.00 | |
| Free Cash Flow | -$14.6M | $12.5M | -$3.7M | -$19.4M | -$40.6M | -$71.0M | -$26.8M | -$30.8M | -$49.1M | -$51.5M | -$61.6M | |
| Investing Cash Flow | -$34.9K | -$18.9M | $865.5K | -$443.0K | $11.1M | -$113.0K | -$95.0K | -$133.0K | $356.0K | -$81.7M | -$313.3M | |
| Financing Cash Flow | -$1.4M | $3.7M | $10.4M | $12.6M | $44.8M | $106.8M | -$14.7M | $25.0M | $175.8M | $14.6M | $844.0M | |
| Issuance of Stock | $2.0M | $6.3M | $3.9M | $12.7M | $44.5M | $71.9M | $107.0K | $46.2M | $115.6M | $15.1M | $434.5M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $66.0K | |
| Net Debt Issuance | -$3.3M | -$2.4M | $0.00 | -$256.1K | $0.00 | $32.9M | -$14.8M | -$21.2M | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $1.7M | $1.2M | $2.4M | $2.5M | $6.8M | $8.2M | $7.6M | $3.5M | $5.9M | $13.6M | $18.6M | |
| Net Change in Cash | -$16.0M | -$2.7M | $8.1M | -$7.0M | $15.4M | $35.8M | -$41.4M | -$5.8M | $127.1M | -$118.6M | $469.2M |
Dilution Tracker
Shares outstanding grew 52445.3% over 5 years — significant dilution
Shares Outstanding
54M
5-Year Share Growth
+52445.3%
Stock Issuance (TTM)
$434.5M
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 0.00 | 0.01 | 0.01 | 0.02 | 0.03 | 0.04 | 0.04 | 0.28 | 10.78 | 13.40 | 55.06 | |
| Change vs Prior % | — | 112.4% | 85.4% | 64.4% | 28.5% | 41.9% | 8.3% | 608.5% | 3783.0% | 24.3% | 310.8% | |
| Stock Issuance | $2.0M | $6.3M | $3.9M | $12.7M | $44.5M | $71.9M | $107.0K | $46.2M | $115.6M | $15.1M | $434.5M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $66.0K | |
| Stock Based Comp. | $1.7M | $1.2M | $2.4M | $2.5M | $6.8M | $8.2M | $7.6M | $3.5M | $5.9M | $13.6M | $18.6M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | -614.6% | 97.7% | 59.2% | 108.4% | 95.5% | 72.4% | 81.0% | 33.3% | 183.0% | 100.0% | 71.2% | |
| Operating Margin % | -1394.6% | 49.9% | -214.5% | -239.1% | 0.0% | -1521.6% | -207.4% | -1421.6% | -15535.6% | -123601.7% | -161961.0% | |
| Net Margin % | -1428.5% | 42.7% | -218.5% | -238.1% | -947.9% | -1563.1% | -230.8% | -1639.5% | -7965.8% | -132642.4% | -150259.3% | |
| EBITDA Margin % | -1392.3% | 51.6% | -71.2% | -200.1% | -678.5% | -1491.2% | -206.6% | -1210.3% | -7901.6% | -131779.7% | -157449.2% | |
| FCF Margin % | -1267.0% | 44.9% | -20.1% | -287.3% | -606.1% | -1315.4% | -148.7% | -1602.8% | -11123.8% | -87216.9% | -104328.8% | |
| ROE % | -7957.0% | 42.6% | -191.6% | -76.6% | -258.5% | -365.5% | 381.7% | -431.9% | -26.4% | -94.2% | -34.2% | |
| ROA % | -285.5% | 27.5% | -57.0% | -44.5% | -145.1% | -105.2% | -124.8% | -150.3% | -23.3% | -67.2% | -18.4% | |
| ROIC % | -422.0% | 37.6% | -89.2% | -66.9% | 0.0% | -134.8% | -211.3% | -161.7% | -47.5% | -70.2% | -20.9% | |
| R&D / Revenue % | 880.3% | 15.7% | 31.6% | 174.3% | 480.6% | 1108.5% | 173.4% | 716.4% | 11809.1% | 84888.1% | 111488.1% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 2312.2% | -34.1% | -63.2% | -0.8% | -19.4% | 234.4% | -89.3% | -77.1% | -86.6% | |
| Gross Profit | -30042.9% | 483.5% | -60.1% | -32.6% | -12.5% | -38.9% | 274.1% | -95.6% | 26.1% | -92.7% | |
| Operating Income | -46.0% | 186.4% | -383.0% | 59.0% | 100.0% | 0.0% | 54.4% | 26.9% | -150.5% | -6.4% | |
| Net Income | -57.0% | 172.1% | -437.4% | 59.9% | -295.1% | -32.9% | 50.6% | 24.3% | -11.4% | -122.8% | |
| EPS (Diluted) | -35.3% | 8411.6% | -282.0% | 75.3% | -207.9% | 7.7% | 54.4% | 89.3% | 97.1% | -79.1% | |
| Operating Cash Flow | -43.4% | 185.9% | -125.0% | -511.7% | -111.9% | -74.9% | 62.3% | -14.7% | -59.9% | -4.9% | |
| Free Cash Flow | -43.4% | 185.5% | -129.5% | -425.3% | -109.3% | -74.9% | 62.2% | -14.9% | -59.1% | -4.9% | |
| R&D Expense | 54.1% | -56.9% | 32.3% | 103.3% | 173.7% | 85.9% | -47.7% | -56.0% | 277.8% | -3.8% | |
| SG&A Expense | 60.1% | 25.9% | 115.4% | -39.5% | 70.2% | 24.8% | -16.0% | -50.3% | 67.4% | 32.8% | |
| Total Assets | -73.4% | 647.5% | 62.9% | -48.6% | 21.2% | 83.3% | -58.4% | -37.1% | 618.0% | -22.7% | |
| Book Value / Share | -99.6% | 6355.7% | -60.3% | -38.9% | -9.0% | -33.8% | -143.7% | 109.4% | -37.8% | -62.1% | |
| Debt | -57.7% | -100.0% | 0.0% | -99.0% | 173.4% | 7721.1% | -40.1% | -97.3% | 5.8% | 327.3% | |
| Diluted Shares | 296.6% | 112.4% | 85.4% | 64.4% | 28.5% | 41.9% | 8.3% | 608.5% | 3783.0% | 24.3% |
Valuation
P/E (TTM)At Loss
P/S6299.25
10Y Low / Med / High1.31 / 28.95 / 4125.96
P/B0.87
10Y Low / Med / High0.35 / 5.37 / 37.54
EV/EBITDAAt Loss
10Y Low / Med / High0.19 / 2.11 / 3.93
EV/Revenue5200.35
10Y Low / Med / High2.03 / 26.19 / 3898.32
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$0.99
Tangible Book / Share
$7.74
Net Current Assets / Share
$6.64
Graham Net-Net
$6.32
Cash / Share
$7.14
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -115.57 | 4.96 | -2.80 | -18.94 | -3.01 | -2.10 | -1.14 | -0.08 | -1.72 | -3.11 | -2.40 | |
| P/S Ratio | 6.74 | 2.12 | 6.13 | 45.65 | 28.95 | 32.83 | 2.63 | 1.31 | 136.95 | 4125.96 | 6299.25 | |
| P/B Ratio | 37.54 | 2.11 | 5.37 | 14.68 | 7.90 | 7.68 | -4.34 | 0.35 | 0.45 | 2.93 | 0.87 | |
| EV/EBITDA | -0.31 | 3.93 | -8.97 | -22.55 | -3.86 | -1.94 | -1.45 | 0.19 | 2.11 | -2.96 | -3.30 | |
| EV/Revenue | 4.33 | 2.03 | 6.39 | 45.13 | 26.19 | 28.89 | 3.00 | -2.26 | -166.86 | 3898.32 | 5200.35 |
Analyst Estimates & Quality
Altman Z-Score
3.75
Safe
Piotroski F-Score
2
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $1.0M | $1.0M | $13.9K |
| Net Income | -$41.0M | -$38.9M | -$45.3M |
| EPS | $-2.91 | $-2.91 | $-3.06 |
| # Analysts (EPS) | 7 | 9 | 6 |
Revenue Segments
By Product
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| License | — | $625.0K | $14.7M | $516.0K | — | — |
| Product | $6.7M | $4.8M | $3.4M | $1.4M | $441.0K | $59.0K |